Four Buyer Incentives that Sell Homes`

In today's market one can easily find themselves to be stuck in several ways. A family finds themselves stuck with their house on the market with no bites, and stuck in their house until they sell. There's also the feeling of stuck where you've lowered your price as far as you can without having it turn into a short sale. You've already painted the house, replaced the carpet, and lowered the price as far as possible; now this is the feeling of stuck that makes you feel the situation is out of your control and there is nothing you can do to change the outcome. But here are four buyer incentive tips to guide you away from the feeling of being stuck and getting your home sold.

1. Interest rate buy-down

     'Pay points' is a term often heard from sellers offering a percentage points of the sale price. These percentage points are paid to the buyer's lender as discount points that bring the buyer's interest rate down. This will decrease the pressure they feel of guessing and locking their interest rates. They'll also feel they will beat the market rate by buying your home. Seller-paid rate buy-downs save sellers money on the monthly payment of the entire lifetime of the loan. Also these points are tax deductable for the buyer. 

2. Closing cost credit

     Most buyers that are trying to get into the market while prices are low are already finding it very difficult to come up with the money for the down payment. Most home loans require anywhere from 3-6 percent of the loan amount in cash, and the downpayment to cover other fees like closing costs. the smart sellers and their agents include their home's listing and marketing materials the offer to pay 3-6 percent of the home's sale price at the closing to void the closing costs. A closing credit cost gives an edge to buyers and makes a home much more attractive than its competitors. Your agent should help you crunch all the numbers on how much of a credit you can afford to offer, and create an overall package.

3. HOA dues credit

     Homeowners' Association charges monthly dues which can be a hassel. When trying to sell your house you can offer a credit at closing for a time period of your choice. Ask your agent about how to do this strategically in a way that will attract the most buyers without breaking the ethics line.

4. Broker incentives

     Some sellers that can' afford to take on the percentage points have a different plan. They offer a bonus percentage point in incentives to the buyer's agent, plus their commission. More than 90% of buyers ready to buy a house in today's market are represented by a broker. These brokers are looking for which client they want to take, and the one with more incentives usually wins.

These incentives aren't technically 'buyer incentives' but they do lure the number of potential buyers to your home which never hurts your chances.  

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